Alibaba‘s mapping app Amap recorded more than 360 million daily active users on the first day of China’s eight-day National Day holiday on Wednesday, setting an all-time high for the platform, the company said in a statement. Alibaba and rival Meituan have been locked in a bitter battle for market share, with Amap moving away…
Since the beginning of the year, Kelvin Siu and his fiancée had waited for gold prices to decline before buying jewellery for their wedding. Last week, they finally pulled the trigger to purchase, as gold prices continued to climb to fresh highs. “We had no choice but to buy the gold dragon and phoenix bracelets…
Nvidia’s RTX6000D, its newest artificial intelligence chip tailored for the Chinese market, has seen only lukewarm demand with some major tech firms opting not to place orders, two people with knowledge of procurement discussions said. The RTX6000D, designed mainly for AI inference tasks, is seen as expensive for what it does, according to the two…
The moment investors have been waiting for all year is probably at hand. Markets have been clamoring for the Federal Reserve to resume its rate-cutting cycle, and the central bank finally looks poised to trim its target rate at this week’s policy meeting. The odds for a cut have risen steadily in the last few…
This article first appeared on GuruFocus. US stocks may be about to get another tailwind and it’s not from earnings or rate cuts. According to JPMorgan strategists led by Nikolaos Panigirtzoglou, share repurchases could jump by another $600 billion in the coming years, after already hitting an all-time high of $1.5 trillion in 2025. They…
The stock market has a key hurdle it needs to clear this week. While investors have mostly shrugged off bad news in the US job market, equities are about to be tested by coming consumer inflation data, according to Dubravko Lakos-Bujas, the global head of market strategy at JPMorgan. Should inflation figures come in hotter-than-expected…
A venture capital firm backed by Qatar’s sovereign wealth fund is taking a minority stake in an AI-powered logistics technology start-up backed by Hong Kong’s wealthiest man, as it looks for investment opportunities in the Greater China region to more than triple its assets under management by the end of 2025. Doha-based Rasmal Ventures, backed…
Chinese makers of smart electric vehicles (EV) will have to redouble their efforts over the next few quarters to stay on track to break even as the brutal discount war in the world’s largest vehicle market shows few signs of abating. From Nio to Xpeng and Zeekr, China’s EV start-ups have been reporting smaller losses…
Eric Trump, one of the final acts in Hong Kong’s biggest gathering of cryptocurrency enthusiasts, praised the city and China during his fireside chat with the organiser of the Bitcoin Asia conference. “There is no question that you have made an unbelievable mark on cryptocurrencies,” said the second son of US President Donald Trump in…
By Kane Wu and Julie Zhu HONG KONG (Reuters) -Chinese video streaming platform iQIYI has hired Bank of America, CICC and JPMorgan to work on a second listing in Hong Kong, which could raise between $200 million and $300 million, said two people with knowledge of the matter. The company plans to file its application…